Researchers at Lawrence Berkeley National Laboratory have developed a pioneering methodology to estimate the value of climate and air quality benefits derived from wind and solar energy generation. According to a recent report, this innovative approach revealed that wind and solar power provided $249 billion in climate and air quality health benefits from 2019 to 2022. This significant finding underscores the broader impacts of renewable energy beyond the traditional economic metrics like the levelized cost of electricity (LCOE).
The study utilized publicly available electricity generation data, segmenting the continental U.S. into ten regions where wind or solar met at least 3% of electricity demand. The analysis revealed that in 2022, wind and solar power significantly offset fossil fuel generation—1.0 MWh of wind power displaced 0.89 MWh of fossil energy, while 1.0 MWh of solar power replaced 0.76 MWh. The resulting reductions in CO2, SO2, and NOx emissions translated into substantial health benefits: wind generation prevented 228,798 kilotons (KT) of CO2 and generated $62.4 billion in health benefits, while solar generation avoided 45,729 KT of CO2, yielding $11.6 billion in benefits.
The methodology, relying on social cost estimates from recent scientific literature, demonstrated that the health and climate advantages of renewable energy are considerably higher than previously calculated. This insight supports the expansion of wind and solar energy deployment in the U.S. and could be adapted globally, providing a robust tool for advocating increased renewable energy adoption and highlighting its critical role in combating climate change and improving public health.
Source: solarquarter.com